3 weeks ago
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Nigeria’s full nationalist indebtedness has climbed to N152.40 trillion arsenic of June 30, 2025, according to the latest update from the Debt Management Office (DMO) released connected Saturday.
The fig reflects an summation of N3.01 trillion from the N149.39 trillion recorded astatine the extremity of March 2025—representing a 2.01 per cent emergence implicit the three-month period. In dollar terms, the indebtedness grew from $97.24 cardinal to $99.66 billion, indicating a 2.49 per cent increase.
According to the DMO breakdown, the Federal Government accounted for N141.08 trillion, oregon 92.6 per cent of the full nationalist debt. This includes N64.49 trillion successful outer borrowings and N76.59 trillion successful home debt.
The information highlights the government’s sustained dependence connected some section and overseas loans to span fiscal shortfalls amid ongoing reforms successful gross mobilisation and overseas speech policy.
Further investigation showed that Nigeria’s outer indebtedness stood astatine $46.98 cardinal (N71.85 trillion) by June 2025, compared to $45.98 cardinal (N70.63 trillion) successful March.
The World Bank remains the country’s biggest outer creditor with $18.04 billion, mostly from the International Development Association (IDA) window, accounting for astir 38 per cent of full outer obligations.
Multilateral creditors collectively clasp $23.19 billion, oregon 49.4 per cent, of the outer debt. Other cardinal multilateral partners included the African Development Bank (AfDB), International Monetary Fund (IMF), and Islamic Development Bank (IsDB).
Bilateral loans were estimated astatine $6.20 billion, with the Export-Import Bank of China starring astatine $4.91 billion, followed by smaller exposures to France, Japan, India, and Germany.
Commercial borrowings—mainly Eurobonds—were valued astatine $17.32 billion, representing 36.9 per cent of the full outer portfolio, portion syndicated facilities and commercialized slope loans amounted to $268.9 million.
Analysts, however, warned that the country’s important vulnerability to Eurobonds increases vulnerability to planetary marketplace volatility, portion its reliance connected concessional multilateral financing underscored lingering fiscal weaknesses and constricted entree to low-cost credit.
Domestically, Nigeria’s indebtedness illustration roseate to N80.55 trillion successful June, up from N78.76 trillion successful March—an increment of N1.79 trillion oregon 2.27 per cent.
Federal Government bonds dominated the section indebtedness constituent astatine N60.65 trillion, representing 79.2 per cent of full home liabilities. This fig includes N36.52 trillion successful FGN bonds, N22.72 trillion from the securitised Ways and Means advances obtained from the Central Bank of Nigeria, and N1.40 trillion successful dollar-denominated bonds.
Other components of home indebtedness see N12.76 trillion successful Treasury bills (16.7 per cent), N1.29 trillion successful Sukuk bonds, N91.53 cardinal successful savings bonds, N62.36 cardinal successful greenish bonds, and N1.73 trillion successful promissory notes.
The securitisation of the CBN’s Ways and Means lending—essentially converting overdrafts into semipermanent obligations—reflects the fiscal constraints confronting the Tinubu administration, adjacent arsenic it moves to enforce monetary subject and fortify capitalist confidence in the economy.
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